Bank Act (S.C. 1991, c. 46)

Act current to 2014-12-08 and last amended on 2014-06-19. Previous Versions

Corporate Name and Seal

Marginal note:Publication of name

 A bank holding company shall set out its name in legible characters in all contracts, invoices, negotiable instruments and other documents evidencing rights or obligations with respect to other parties that are issued or made by or on behalf of the bank holding company.

  • 2001, c. 9, s. 183.
Marginal note:Corporate seal
  •  (1) A bank holding company may adopt a corporate seal and change one that it adopted.

  • Marginal note:Validity of unsealed documents

    (2) A document executed on behalf of a bank holding company is not invalid merely because a corporate seal is not affixed to it.

  • 2001, c. 9, s. 183;
  • 2005, c. 54, s. 124.

Insiders

Marginal note:Ss. 265 to 272 apply

 Sections 265 to 272 apply in respect of bank holding companies except that references to “bank” are to be read as references to “bank holding company”.

  • 2001, c. 9, s. 183;
  • 2005, c. 54, s. 124.

Prospectus

Marginal note:Ss. 273 and 274 apply

 Sections 273 and 274 apply in respect of bank holding companies except that references to “bank” are to be read as references to “bank holding company”.

  • 2001, c. 9, s. 183;
  • 2005, c. 54, s. 124.

Going-private Transactions and Squeeze-out Transactions

Marginal note:Ss. 275 to 277 apply

 Sections 275 to 277 apply in respect of bank holding companies subject to the following:

  • (a) references to “bank” are to be read as references to “bank holding company”;

  • (b) the reference to “this Act” in section 276 is to be read as a reference to “this Part”; and

  • (c) the reference to “a regulation referred to in subsection 485(1) or (2) or of an order made under subsection 485(3)” in subsection 277(25) is to be read as a reference to “a regulation referred to in subsection 949(1) or (2) or of an order made under subsection 949(3)”.

  • 2005, c. 54, s. 124.

Compulsory Acquisitions

Marginal note:Ss. 283 to 292.1 apply

 Sections 283 to 292.1 apply in respect of bank holding companies, subject to the following:

  • (a) references to “bank” in those sections are to be read as references to “bank holding company”;

  • (b) references to “another deposit-taking financial institution” in subsection 287(3) are to be read as references to “a deposit-taking financial institution”; and

  • (c) the reference to “the Minister” in subsection 291(4) is to be read as a reference to “the Receiver General”.

  • 2001, c. 9, s. 183;
  • 2005, c. 54, s. 125.